Archive · 21 Jun 2025
BRS Alleges Financial Fraud Involving Ex-MP Ranjith Reddy, Resort
The BRS party says that a big money scam happened with a resort called Leonia Resorts.
They claim that Ranjith Reddy, a former politician, used his power to get the resort's property for a very low price, around 327 crore rupees.
The resort had a lot of loans, about 2,221 crore rupees.
The BRS alleges that other people who wanted to buy the resort were stopped from bidding, so only Ranjith Reddy's company could buy it.
The BRS thinks this caused banks to lose money and wants the government to investigate.
BRS alleges a financial scam involving former MP Ranjith Reddy and Leonia Resorts.
BRS claims Ranjith Reddy's front company acquired resort properties for Rs 327 crore.
Original promoters had loans totaling Rs 2,221 crore for the 180-acre resort properties.
BRS alleges other potential bidders were forced to withdraw, leaving only Ranjith Reddy's company.
The BRS demands ED and CBI investigations into the alleged scam.
- Who
- BRS alleges the scam involves former MP G. Ranjith Reddy.
- What
- BRS alleges a financial scam in the transfer of Leonia Resorts ownership.
- When
- Friday
- Where
- Hyderabad
- Why
- BRS alleges public money from banks is at stake and demands an investigation.
BRS Allegations
Unspecified
Bidding Process
BRS Allegations
Ranjith Reddy, using his political influence, allegedly manipulated the bidding process, causing other potential buyers to withdraw.
Unspecified
Not stated in the article.
- Involved Parties
- BRS, Ranjith Reddy, Jalavihar Entertainment Consortium
- Resort Name
- Leonia Resorts
- Original Loans
- Rs 2,221 crore
- Purchase Price
- Rs 327 crore
- Property Size
- 180 acres
- Alleged Scam Value (Market)
- Rs 10,000 crore